IMX Resources
IMX Resources Limited (IMX) is a dual-listed iron ore mining and base and precious metals exploration company based in Perth, Western Australia (ASX/TSX ticker code: IXR). The company was listed on the Australian Stock Exchange on August 17, 1994.[1] When IMX's now-closed Cairn Hill mine commenced production in 2010 it became the first new South Australian iron ore mine in over a century.[2] IMX was also the first Australian iron ore company to operate the rotainer bulk export system, which is now in use at a number of other sites around the country.[3]
Cairn Hill Mining Operation
IMX operated the Cairn Hill Mining Operation, located 55 km from Coober Pedy in South Australia, which produced 1.8Mtpa of a unique coarse-grained magnetite-copper DSO (Direct Shipping Ore) product. The product was mined and crushed on site before being trucked and railed to Port Adelaide, where it was then shipped to China. Cairn Hill was a joint venture between IMX Resources (51%) and Sichuan Taifeng (49%).[4]
The Cairn Hill Mining Operation was commissioned in May 2010 and commenced production in December 2010.
From Cairn Hill, ore was trucked 58 km to the Rankin Dam rail siding, where it was loaded into specially designed open-top containers on a train for the 879 km journey to Port Adelaide. Next, the ore was stockpiled in containers, then loaded directly onto the ship through a rotating containerised ore loading facility. Cairn Hill supplied enough ore for two full shipments of 75,000 tonnes (a single Panamax class vessel per shipment) per month. Cairn Hill ore was sold to China where its relatively high copper value and the soft, coarse grained quality of the ore made it highly desirable to a range of customers.[5]
In July 2013, the Cairn Hill Mining Operation reached a milestone of 4,000,000 tonnes of iron ore exported.[3]
In November 2013, IMX investigated ways to extend the life of the mine by at least 12 to 15 months, before shifting focus to the Mount Woods Magnetite Project.[6]
Due to low iron ore prices, the Cairn Hill mine was closed in June 2014.[7]
Nachingwea Regional Exploration Project
IMX owns and operates the highly prospective Nachingwea Regional Exploration Project in south-east Tanzania, which includes the Ntaka Hill Nickel Sulphide Project. Nachingwea is a large tenement package, located approximately 200 kilometres from the port of Mtwara, with the potential to host multiple mineralised systems. Recent exploration has proven occurrences of high-grade and disseminated nickel and copper sulphides, gold and graphite.[4]
Mount Woods Magnetite Project, South Australia
IMX is actively exploring its Mt Woods Magnetite Project in South Australia, where it has identified the Snaefell Magnetite Deposit and a number of other substantial magnetite exploration targets. IMX is seeking to develop a 1.8-3.5Mtpa mining project at Snaefell utilising infrastructure form the now-closed Cairn Hill mine, and is presently seeking a cornerstone investor willing to fund the project development costs. IMX retains a pipeline of strategic investments and a portfolio of base and precious metal exploration assets in Australia and southern Africa.[4][7]
References
- ↑ Australian Stock Exchange "Company Snapshot - IMX Resources Limited" Accessed 24 November 2013.
- ↑ "China cash boosts IMX resources" The Australian, 13 July 2010. Accessed 24 November 2013.
- 1 2 Yahoo Finance "IMX Resources Limited: Cairn Hill Ships Four Millionth Tonne of Ore" (2013-07-25) Accessed 24 November 2013.
- 1 2 3 IMX Resources website Accessed 13 September 201a.
- ↑ IMX Resources Ltd "Cairn Hill - IMX Resources Limited" Accessed 24 November 2013.
- ↑ "IMX on expansion trail at Cairn Hill" The Advertiser, 14 November 2013. Accessed 26 November 2013.
- 1 2 Cairn Hill iron ore miner IMX Resources to close South Australian office, focus on Tanzanian exploration The Advertiser, 3 September 2014. Accessed 4 September 2014.